EXECUTIVE ORDER MJF 98-54

Bond Allocation Louisiana Public Facilities Authority

WHEREAS, pursuant to the Tax Reform Act of 1986 (hereafter "the Act") and Act Number 51 of the 1986 Regular
Session of the Louisiana Legislature, Executive Order Number MJF 96-25 (hereafter "MJF 96-25") was issued on
August 27, 1996, to establish:

1. a method for allocating bonds subject to private activity bond volume limits, including the method of allocating
bonds subject to the private activity bond volume limits for the calendar year of 1998 (hereafter "the 1998 Ceiling");

2. the procedure for obtaining an allocation of bonds under the 1998 Ceiling; and

3. a system of central record keeping for such allocations; and

WHEREAS, the Louisiana Public Facilities Authority has requested an allocation from the 1998 Ceiling to be used in connection with the financing of the acquisition,
construction, and equipping of a pipe mill for AMS Tube Corporation, located at 40529 Pumpkin Center Road,
Hammond, parish of Tangipahoa, state of Louisiana (hereafter "Project"), in accordance with the provisions of Section
146 of the Internal Revenue Code of 1986, as amended;

NOW THEREFORE I, M.J. "MIKE" FOSTER, JR., Governor of the state of Louisiana, by virtue of the authority
vested by the Constitution and laws of the state of Louisiana, do hereby order and direct as follows:

SECTION 1: The bond issue, as described in this Section, shall be and is hereby granted an allocation from the
1998 Ceiling as follows:

AMOUNT OF
ALLOCATION

NAME OF ISSUER

NAME OF PROJECT

$1,200,000

Louisiana Public
Facilities Authority

AMS Tube
Corporation

SECTION 2: The granted allocation shall be used only for the bond issue described in Section 1 and for the general
purpose set forth in the "Application for Allocation of a Portion of the State of Louisiana's Private Activity Bond
Ceiling" submitted in connection with the bond issue described in Section 1.

SECTION 3: The granted allocation shall be valid and in full force and effect, provided that such bonds are
delivered to the initial purchasers thereof on or before December 28, 1998.

SECTION 4: All references in this Order to the singular shall include the plural, and all plural references shall
include the singular.

SECTION 5: The undersigned certifies, under penalty of perjury, that the granted allocation was not made in
consideration of any bribe, gift, or gratuity, or any direct or indirect contribution to any political campaign. The
undersigned also certifies that the granted allocation meets the requirements of Section 146 of the Internal Revenue
Code of 1986, as amended.

SECTION 6: This Order is effective upon signature and shall remain in effect until amended, modified, terminated,
or rescinded by the governor, or terminated by operation of law.

IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of the state of
Louisiana, at the Capitol, in the city of Baton Rouge, on this 28th day of October, 1998.